Piper Jaffray Reiterates Clinical Data Overweight, $31 PT (CLDA)

Piper Jaffray reiterated its Clinical Data CLDA Overweight rating and $31 price target in a research report published today. In the report, Piper Jaffray states, "Clinical Data's Chairman recently commented in an interview with Reuters that the company has a brief window while it plans a U.S. launch of Viibryd during which it will entertain take-out offers. We have always maintained that Viibryd is a differentiated asset with blockbuster potential in the hands of a big pharma partner. Using a conservative DCF analysis we believe Clinical Data is worth $47-75 per share in a take-out assuming peak Viibryd sales of $1.5-$2.5 billion." Shares of Clinical Data were at $31.35 in pre-market trading at the time of posting, up 5.34% from Wednesday's market close.